What’s hot in Crypto this week?
Meet Orbs. It’s the largest blockchain company in Israel. The public blockchain offers a hybrid model that combines the scalability of a second layer for decentralized applications, with the security and stability of a base layer. This enables the design of mass-usage applications, which makes the blockchain particularly well suited for enterprise and high volume use-cases.
Why is it hot?
Orbs was recently in the news for partnering with Binance to fund an accelerator for decentralized finance innovation, and before that for its open letter to French President Macron arguing for the use of blockchain technology to transform the deployment of financial aid to Lebanon.
What’s perhaps been less in the news however is the fact that Orbs is most popular in South Korea.
What does Orbs’ on-chain data show?
On-chain data shows most activity is happening on the South Korea-based exchange, Upbit. And Orbs’ largest validators, or “guardians,” are located in Korea and Japan.
Guardians operate the Orbs’ network nodes and run the virtual chains for the subscribed applications. The top two in terms of total staked are in South Korea, and 12 out of the top 20 are from South Korea and Japan, which suggests that Orbs’ strongest communities are in these two countries.
- NEOPLY – in South Korea
- WhaleCoreStake – in South Korea
- Japan-guardian-altive-orbs-v2 – in Japan
What’s Flipside’s Take?
South Korea has always been a major force in technology, and their adoption of blockchain has been no exception. South Korea is now a major cryptocurrency market. Its top two crypto exchanges — Upbit and Bithumb — are among the top 10 exchanges in the world in terms of visits, and combine for a daily trading volume of over $9 billion.
View more of Orbs’ on-chain data: orbs.flipsidecrypto.com.
The Flipside Crypto Asset Score Tracker provides institutional and sophisticated retail investors the ability to track over 500 cryptocurrencies’ fundamentals. FCAS Tracker is currently free to a select group of new users as it continues to develop the product. Visit Flipside here to gain access to Flipside Analytics.